Apple Inc. (AAPL) Sees Significant Increase in Short Interest

Apple Inc. (NASDAQ:AAPL) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 48,108,995 shares, a growth of 23.0% from the August 15th total of 39,117,077 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 25,493,606 shares, the days-to-cover ratio is presently 1.9 days.

In other Apple news, insider Johny Srouji sold 5,892 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $161.00, for a total transaction of $948,612.00. Following the sale, the insider now directly owns 70,358 shares of the company’s stock, valued at $11,327,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy D. Cook sold 268,623 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $160.63, for a total transaction of $43,148,912.49. The disclosure for this sale can be found here. Insiders have sold 432,930 shares of company stock worth $69,008,577 over the last ninety days. Insiders own 0.08% of the company’s stock.

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Several large investors have recently made changes to their positions in the stock. Frontier Investment Mgmt Co. grew its stake in shares of Apple by 2.1% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 289,525 shares of the iPhone maker’s stock valued at $41,697,000 after acquiring an additional 6,040 shares during the period. Burgundy Asset Management Ltd. grew its stake in shares of Apple by 0.8% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,060,062 shares of the iPhone maker’s stock valued at $152,670,000 after acquiring an additional 8,536 shares during the period. Pinnacle Family Advisors LLC grew its stake in shares of Apple by 17.8% during the 2nd quarter. Pinnacle Family Advisors LLC now owns 13,454 shares of the iPhone maker’s stock valued at $1,938,000 after acquiring an additional 2,035 shares during the period. Intl Fcstone Inc. grew its stake in shares of Apple by 171.1% during the 2nd quarter. Intl Fcstone Inc. now owns 31,725 shares of the iPhone maker’s stock valued at $4,569,000 after acquiring an additional 20,022 shares during the period. Finally, Griffin Asset Management Inc. bought a new position in shares of Apple during the 2nd quarter valued at approximately $7,126,000. Institutional investors own 60.45% of the company’s stock.

Shares of Apple (NASDAQ:AAPL) opened at 159.88 on Friday. The stock has a market capitalization of $825.82 billion, a P/E ratio of 18.15 and a beta of 1.27. Apple has a one year low of $104.08 and a one year high of $164.94. The stock has a 50 day moving average of $158.97 and a 200-day moving average of $149.42.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Tuesday, August 1st. The iPhone maker reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.10. The company had revenue of $45.41 billion during the quarter, compared to the consensus estimate of $44.94 billion. Apple had a return on equity of 35.40% and a net margin of 20.87%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 EPS. Equities analysts forecast that Apple will post $9.01 earnings per share for the current year.

Several analysts have recently commented on AAPL shares. Drexel Hamilton reissued a “buy” rating and set a $202.00 price target on shares of Apple in a research note on Thursday, July 6th. Barclays PLC reissued a “hold” rating and set a $146.00 price target on shares of Apple in a research note on Monday, September 4th. Instinet reissued a “buy” rating and set a $165.00 price target on shares of Apple in a research note on Wednesday, July 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price target on shares of Apple in a research note on Monday, September 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $182.00 price target on shares of Apple in a research note on Tuesday, September 12th. Eleven analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $187.63.

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About Apple

Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.